Finance & Capital Management

Washington, D.C. – The National Retail Federation (NRF) is highly critical of a decision by the National Labor Relations Board (NLRB) recommending that McDonald’s and its franchisees should be considered joint employers. According to the NRF, this move would stall job growth and diminish capital investment by making it easier for fast food workers to unionize.

Jim Wade, who has 35 years of experience in retail, is the newest member of closeout retailer Tuesday Morning’s board of directors. Wade will be part of the board’s audit committee.

Dallas -- Tuesday Morning Corp. has named Jim Wade, a 35-year retail veteran, as an independent member of the company's board of directors, effective immediately. He will serve on the company's Audit Committee.

Wade currently serves on the board of directors and Finance Committee for Advance Auto Parts Inc. He first joined Advance Auto Parts in 1994 as treasurer, and retired as president in 2011 with responsibilities including store operations and both the DIY and commercial businesses.  

Boston – Wayfair has named Romero Rodrigues to the company's board of directors. As global CEO for comparison shopping at Naspers, a South African multinational mass media company, and co-founder of the Buscape Company, a digital commerce group, Rodrigues brings extensive entrepreneurial, e-commerce and consumer expertise to the Wayfair board.

Minneapolis – Tile Shop Holdings Inc. reported a 38% dip in net income during the second quarter of fiscal 2014 compared to the same period a year earlier. Net income fell to $3.96 billion from $6.48 billion, with Tile Shop citing adverse macroeconomic conditions, including home sales, as having a generally negative impact on the business.

Houston -- Mattress Firm Holding Corp. has completed its rollout of Genesis Credit second-look financing, which is powered by Genesis Financial Solutions. Genesis Credit allows customers with less-than-perfect credit to purchase goods and services from any Mattress Firm location.

Twitter posted solid growth in user metrics for its second quarter, including strength in mobile, which allowed the social media platform to exceed sales and profit forecasts.

Twitter said it had 271 million monthly active users during the quarter ended June 30, an increase of 24% compared to the prior year. Roughly 78% of those users were on mobile devices, a 29% increase from the prior year.

Fort Worth, Texas – Financial woes continue for RadioShack, which was recently notified it is in danger of being delisted by the New York Stock Exchange. According to a new report from Moody’s Investor Service, RadioShack is likely to run out cash by the end of October 2015.